Business OpportunitiesCipla in talks with Pfizer, others for alliance
Cipla today said it is talking to many global drug makers, including Pfizer Inc, for the development and supply of generic products.
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"Cipla is in a dialogue with a number of multinationals towards developing products, regulatory packages and ultimately supply of products from its world-class facilities. Pfizer is one such company with whom Cipla is in dialogue," Pfizer Inc Joint Managing Director Amar Lulla said in a statement here.
However, the two pharmaceutical giants have not signed any agreement till now. "There is nothing beyond this arrangement," Lulla said.
The stock of Cipla closed at Rs 328.70 on the Bombay Stock Exchange today, higher by 2.67 per cent.
Global drug-makers like Pfizer are battling with increasing competition in the generic segment coupled with falling margins.
Cost-effective markets like India help them secure a supply chain on the back of demand from domestic firms such as Cipla and Dr Reddy"s Laboratories.
The Indian drug-maker last month offered to supply the generic version of Tamiflu - used for treatment of the H1N1 swine flu virus - to the US.
The company statement said it could produce up to 2 million doses of Oseltamivir (Tamiflu) per month.